Ann's problem was a lack of consistency in the annual reports. The three companies' reporting practices and policies differed, and even some of the same terms had different meanings. After spending an hour flipping through the annual reports and accomplishing little, Ann decided that her best bet was to restate the foreign financial statements to her domestic GAAP and then do a financial analysis. She figured that bringing the companies to a common accounting base would provide for her comparison across companies.
Do you agree with Ann's method of comparing foreign companies with one another?
Dear Student, I have reviewed your assignment thoroughly, based on your assignment details and current... View the full answer